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Royal Ahold Company

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BUSINESS
March 8, 2000 | Bloomberg News
Royal Ahold, Europe's third-largest supermarket company, agreed to buy U.S. Foodservice Inc. for $3.6 billion to become a supplier of food to U.S. sports stadiums, restaurants and other businesses. The Dutch owner of the Giant and Stop & Shop chains would pay $26 a share in cash, a 42% premium to U.S. Foodservice's closing price Monday, and assume $925 million in debt. The purchase of the No. 2 U.S. food distributor gives Ahold immediate access to a $150-billion-a-year market.
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BUSINESS
November 29, 2005 | From Bloomberg News
Royal Ahold, the Dutch owner of the Giant and Stop & Shop supermarket chains, agreed to pay $1.1 billion to settle a U.S. class-action lawsuit over the company's false earnings statements. The accord will result in a third-quarter cost of 585 million euros after taxes, said Peter Wakkie, the executive board member responsible for Amsterdam-based Ahold's corporate governance. It's the biggest securities class-action settlement by a European company in the U.S.
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BUSINESS
September 1, 2001 | Reuters
Dutch supermarket group Ahold is in advanced talks to buy Alliant Foodservice Inc. of the U.S. for $1.5 billion in cash, plus the assumption of $700 million in debt, according to a source familiar with the deal. The purchase of Alliant from New York investment firm Clayton Dubilier & Rice, which is expected to be announced early next week, would consolidate Ahold's position as the world's third-largest supermarket and retail group. Ahold owns the Giant Food and Stop & Shop chains in the U.S.
BUSINESS
October 4, 2005 | From Bloomberg News
Royal Ahold, the owner of Stop & Shop and Giant stores, may be interested in buying parts of Albertsons Inc., Royal Ahold Chief Executive Anders Moberg said. He ruled out buying all of Albertsons, the second-largest U.S. supermarket company. Moberg said he had had no contact with Albertsons CEO Larry Johnston. Boise, Idaho-based Albertsons put itself up for sale last month. Ahold is looking to expand again after a divestment program to pay down debt after inflating profit for three years.
BUSINESS
April 4, 2003 | From Bloomberg News
General Mills Inc., Kraft Foods Inc., H.J. Heinz Co. and Sara Lee Corp. said they were contacted by the Securities and Exchange Commission as part of an investigation into Royal Ahold's distribution business. The SEC has been looking into the accounting practices of Ahold's U.S. Foodservice, including how it accounted for discounts from suppliers.
BUSINESS
July 12, 1996
Hariston Corp.'s Polish affiliate sold its 49% interest in eight supermarkets in Poland to a joint venture led by Royal Ahold N.V. for $9.4 million. Terms and the expected completion date of the transaction were not disclosed. Hariston, a holding company, said it owns about 1.6 million Polish Life Improvement S.A. shares and holds a $7 million note, currently in default, that is secured by a collateral interest in another 1.4 million shares.
BUSINESS
March 29, 1996 | From Associated Press
Royal Ahold expanded its U.S. supermarket presence Thursday in a surprising $2.9-billion deal to buy its sixth chain--Stop & Shop, the biggest grocery retailer in New England. The proposed merger, which requires regulatory approval, would make Amsterdam-based Royal Ahold one of the top five supermarket operators in the United States. The company already owns Tops, Finast, Edwards, Giant Food Stores and Bi-Lo.
BUSINESS
April 8, 2003 | From Bloomberg News
Sara Lee Corp., the maker of baked goods and Ball Park hot dogs, said Monday that it suspended three salespeople the company said helped Royal Ahold's U.S. Foodservice unit inflate revenue. The workers certified inaccurate information Ahold had given its auditor Deloitte & Touche regarding rebates for products distributed to restaurants and cafeterias, said Sara Lee, a vendor of wholesaler U.S. Foodservice. The Securities and Exchange Commission is investigating how U.S.
BUSINESS
July 17, 2001 | Associated Press
Peapod Inc. shares surged after Dutch supermarket giant Royal Ahold announced plans to buy the rest of the online grocer for $2.15 a share, or $35 million in cash. Royal Ahold already holds a 42% stake in the online grocer. Peapod says it's making money in some markets and is on track for overall profitability in 2003. The company delivers groceries in metropolitan Chicago; Boston; southern Connecticut; Long Island, N.Y.; and Washington, D.C. Shares of Skokie, Ill.
BUSINESS
July 29, 2004 | From Associated Press
Two former executives of a U.S. subsidiary of supermarket giant Royal Ahold pleaded not guilty to conspiring to inflate the company's earnings. Former U.S. Foodservice Inc. Chief Financial Officer Michael Resnick and former Chief Marketing Officer Mark Kaiser entered the pleas in Manhattan federal court. On Tuesday, federal prosecutors accused the pair of working together to inflate the company's earnings by $800 million from 2000 to 2003 by reporting fake rebates from suppliers.
BUSINESS
January 14, 2005 | From Associated Press
Nine food vendors were charged Thursday with helping to inflate the earnings of a U.S. subsidiary of Dutch grocery giant Royal Ahold by signing false audit confirmation reports. The charges came six months after prosecutors accused four executives of the subsidiary, U.S. Foodservice Inc., of inflating earnings by $800 million by reporting fake rebates from the vendors. U.S. Atty.
BUSINESS
July 29, 2004 | From Associated Press
Two former executives of a U.S. subsidiary of supermarket giant Royal Ahold pleaded not guilty to conspiring to inflate the company's earnings. Former U.S. Foodservice Inc. Chief Financial Officer Michael Resnick and former Chief Marketing Officer Mark Kaiser entered the pleas in Manhattan federal court. On Tuesday, federal prosecutors accused the pair of working together to inflate the company's earnings by $800 million from 2000 to 2003 by reporting fake rebates from suppliers.
BUSINESS
July 8, 2003 | From Associated Press
After weekend raids on the headquarters of Royal Ahold, the Dutch public prosecutor's office said it had begun a criminal investigation into the global grocery retailer for allegedly falsifying documents and publishing incorrect information in its annual reports. Ahold said it had "given its full cooperation" to investigators. The Dutch offices of Ahold's accountant, Deloitte & Touche, also were raided.
BUSINESS
May 10, 2003 | From Reuters
Retailer Royal Ahold said financial chicanery at a U.S. unit may involve more employees than the two managers it initially identified. Ahold's latest disclosure follows its announcement Thursday that the probe was "substantially complete" and that two executives, since fired, were behind an $880-million overstatement of profit at its U.S. Foodservice unit.
BUSINESS
May 9, 2003 | From Reuters
Royal Ahold, the global supermarket group, said it overstated profit at a U.S. unit by $880 million but said only two executives, since fired, were behind it. The announcement was met with a mix of relief and skepticism. Investors drove its stock 9% higher in U.S. trading on hopes it meant that the problems were isolated and easily contained. Ahold said it had found no signs of fraud at other units. The company, which is being probed by U.S.
BUSINESS
April 8, 2003 | From Bloomberg News
Sara Lee Corp., the maker of baked goods and Ball Park hot dogs, said Monday that it suspended three salespeople the company said helped Royal Ahold's U.S. Foodservice unit inflate revenue. The workers certified inaccurate information Ahold had given its auditor Deloitte & Touche regarding rebates for products distributed to restaurants and cafeterias, said Sara Lee, a vendor of wholesaler U.S. Foodservice. The Securities and Exchange Commission is investigating how U.S.
BUSINESS
April 15, 2000 | Reuters
Dutch supermarket group Royal Ahold said it agreed to buy 51% of Peapod Inc. for $73 million, bailing the struggling Internet grocer out of financial straits. Peapod said Ahold will invest about $73 million in a newly issued series of Peapod stock at $3.75 a share. Ahold would also get warrants for more shares that would increase its Peapod voting stock to 75%. The news sent Peapod's shares up 69 cents to close at $3.19 on Nasdaq.
BUSINESS
July 8, 2003 | From Associated Press
After weekend raids on the headquarters of Royal Ahold, the Dutch public prosecutor's office said it had begun a criminal investigation into the global grocery retailer for allegedly falsifying documents and publishing incorrect information in its annual reports. Ahold said it had "given its full cooperation" to investigators. The Dutch offices of Ahold's accountant, Deloitte & Touche, also were raided.
BUSINESS
April 4, 2003 | From Bloomberg News
General Mills Inc., Kraft Foods Inc., H.J. Heinz Co. and Sara Lee Corp. said they were contacted by the Securities and Exchange Commission as part of an investigation into Royal Ahold's distribution business. The SEC has been looking into the accounting practices of Ahold's U.S. Foodservice, including how it accounted for discounts from suppliers.
BUSINESS
September 1, 2001 | Reuters
Dutch supermarket group Ahold is in advanced talks to buy Alliant Foodservice Inc. of the U.S. for $1.5 billion in cash, plus the assumption of $700 million in debt, according to a source familiar with the deal. The purchase of Alliant from New York investment firm Clayton Dubilier & Rice, which is expected to be announced early next week, would consolidate Ahold's position as the world's third-largest supermarket and retail group. Ahold owns the Giant Food and Stop & Shop chains in the U.S.
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